My Investing Muse

  From the latest treasury  report , the total receipts stand at $3,413 billion and the total outlay stands at $4,805 billion. This meant that there is a fiscal deficit of $1,393 billion as of the end of June 2023. For Fiscal Year 2023, it starts from Oct 2022. Now, let us look at the deficit. FY23 has hit a cumulative deficit of $1.4 trillion as of June. From  PGPF : The federal government ran a deficit of $228 billion in June 2023, a $139 billion increase from the deficit of $89 billion that was recorded in June 2022. However, because July 1, 2023, fell on a weekend, certain payments that would have occurred then were shifted into June. Excluding the effect of that shift, the deficit would have been $139 billion in June 2023, and the year-over-year difference would have been a $53 billion increase. For the first eight months of FY23, total outlays were $4.8 trillion, $455 billion higher than the same period in the previous year (not adjusting for timing shifts). The lar...

Holidays Hong Kong will be closed for the Easter holidays on 18 Apr 2022 (Mon) . News Sri Lanka has reached out to the international community (namely IMF and China) for help as they began their default.  Unrest was reported in the country as they ration fuel and faced power outages.   War rages on in Ukraine though there were continuing peace talks.  Following the updates of stories from previously occupied towns, the West looks to apply more sanctions on Russia. There is some tension when a US delegate visited Taiwan.  Shanghai's lockdown has eased with the lift of restrictions in selected districts. In the market, the biggest news was Elon's quest for free speech through his offer of USD$43 billion to purchase Twitter.  The US hits a record inflation rate of 8.5% and we can expect the Fed to respond with a more aggressive rate increase and asset selling. Economic Calendar Economic Calendar for the week starting 18Apr22 Notable events: China reports their...

Holidays affecting markets 15 April 2022 is a public holiday for Hong Kong, the US and many other countries as Christians celebrate Good Friday and Easter Sunday.  So, it will be a shorter week for most of us. News and geopolitical outlook Covid cases in the US surge as a warning was given Dr Fauci has warned that the US may see a Covid surge in the coming Fall after 53 members of the US A-List were tested positive after a Washington dinner. The lockdown in Shanghai continues as the cases continue to surge.  The impact will hit the global market in the coming weeks.  Fortunately, this allows the US port congestion of Los Angeles and Long Beach (LALB) to ease, bringing relief to the US supply chain.  War continues as Russian troops focus their efforts on Eastern Ukraine.  More sanctions are expected to be levied on Russia.   Fed has advised a need to be more aggressive, thus spooking the market during the week.  The market is expecting a more aggr...